21 Tax Changes For 2011 Returns!

Have you started on your taxes yet?  If the date isn’t April 1_, then I know I have NOT!  Let’s hope you held off.  There are 20 changes to note when filing this year.  I don’t understand MOST of them, except for one: this year’s deadline has been pushed back to April 17th.   This is why I hired an accountant!   But, if you’re the “smart type” (unlike me), you’ll wanna check out this list.

Here’s what has changed:

  1. Alternative Minimum Tax
  2. Alternative Motor Vehicle Credit
  3. Capital Gains and Dividends
  4. Child Tax Credit
  5. Designated Roth Accounts
  6. Due Date of Tax Return
  7. Estate Tax
  8. First-Time Homebuyer Credit
  9. Foreign Financial Assets
  10. Health Savings Accounts and Archer MSAs
  11. Income Tax Rates
  12. Mailing Your Return
  13. Making Work Pay Tax Credit
  14. Energy Tax Credits for Homeowners
  15. Personal Exemptions
  16. Repayment of First-Time Homebuyer Credit
  17. Roth IRAs
  18. Self-Employed Health Insurance Deduction
  19. Standard Deduction Increased
  20. Standard Mileage Rates
  21. The Bottom Line

What exactly has changed?  CLICK HERE for the answers from Yahoo! Finance.


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